Tombola Gold Ltd. announced the achievement of a significant milestone with commencement of gold processing and the first gold pour on track for completion by the 19th of December, with pours expected to occur on a weekly basis. In October 2022, Tombola entered a definitive agreement for the short term lease of the Great Australian Mine Plant from True North Copper Pty Ltd, with the Company since successfully refurbishing the GAM Plant. In late October 2022, Tombola commenced initial hauling of Ore material to the GAM Plant, with a total of 28,000 tonnes of material now on the ROM Pad, with haulage continuing to provide continuity of gold production.

An addition fleet of haulage trucks commenced operation to day as scheduled to ramp up and increase ore haulage to GAM. At the Mt Freda Gold Complex, Tombola is currently continuing to construct a 40,000t reusable VAT which is due for completion by Second Quarter 2023. The Company expects that the VAT's will significantly reduce the All In Sustaining Cost (AISC) once operational.

Civil construction of the VAT's is complete with environmental permits are in place. As announced on 13 July 2022, the Company entered an agreement to acquire the Lorena Processing Facility including fully permitted mining and exploration leases, the existing open cut gold and copper mine and a 250,000 - 300,000 tonne per annum processing plant.